Business Assignment
Assignment 8: The Business World
(24.0 points) 1. Choose a good that you are familiar with, such as a t-shirt, a tennis racket, a cupcake, a pair of sunglasses, or any other good. Be sure to choose something specific. Then, analyze its economic utility, using the questions below. a. Describe the good you chose to analyze. (1 sentence. 0.5 points) A gaming computer mouse
b. Describe the form utility of this good. Is the form utility good or bad? Can you think of ways to improve it? (2-5 sentences. 1.0 points) It is good. It moves smoothly and has extra buttons on the side for better use and mobility.
c. Describe the place utility of this good. Is the place utility good or bad? Can you think of ways to improve it? (2-5 sentences. 1.0 points) The place utility is nice because most electronics stores carry ones like it.
d. Describe the time utility of this good. Is the time utility good or bad? Can you think of ways to improve it? (2-5 sentences. 1.0 points) The time utility is good because you can use it anytime of the year.
e. Describe the possession utility of this good. Is the possession utility good or bad? Can you think of ways to improve it? (2-5 sentences. 1.0 points) It doesn’t really have another use than what it is made for so bad I guess.
f. Describe the information utility of this good. Is the information utility good or bad? Can you think of ways to improve it? (2-5 sentences. 1.0 points) The information utility is good because lots of gamers are always looking for good gaming mice and so it is easy to find it through internet searches and stuff.
2. List at least one activity that a company might do during each of the following stages of business:
a. Identify (0.5 points)
Invent a new product
b. Plan (0.5 points) Consider the company’s strengths and weaknesses
c. Start (0.5 points)
Choose a location for the business
d. Operate (0.5 points)
Develop the company’s brand image
e. Improve (0.5
(24.0 points) 1. Choose a good that you are familiar with, such as a t-shirt, a tennis racket, a cupcake, a pair of sunglasses, or any other good. Be sure to choose something specific. Then, analyze its economic utility, using the questions below. a. Describe the good you chose to analyze. (1 sentence. 0.5 points) A gaming computer mouse
b. Describe the form utility of this good. Is the form utility good or bad? Can you think of ways to improve it? (2-5 sentences. 1.0 points) It is good. It moves smoothly and has extra buttons on the side for better use and mobility.
c. Describe the place utility of this good. Is the place utility good or bad? Can you think of ways to improve it? (2-5 sentences. 1.0 points) The place utility is nice because most electronics stores carry ones like it.
d. Describe the time utility of this good. Is the time utility good or bad? Can you think of ways to improve it? (2-5 sentences. 1.0 points) The time utility is good because you can use it anytime of the year.
e. Describe the possession utility of this good. Is the possession utility good or bad? Can you think of ways to improve it? (2-5 sentences. 1.0 points) It doesn’t really have another use than what it is made for so bad I guess.
f. Describe the information utility of this good. Is the information utility good or bad? Can you think of ways to improve it? (2-5 sentences. 1.0 points) The information utility is good because lots of gamers are always looking for good gaming mice and so it is easy to find it through internet searches and stuff.
2. List at least one activity that a company might do during each of the following stages of business:
a. Identify (0.5 points)
Invent a new product
b. Plan (0.5 points) Consider the company’s strengths and weaknesses
c. Start (0.5 points)
Choose a location for the business
d. Operate (0.5 points)
Develop the company’s brand image
e. Improve (0.5